My budget is set for a purchase price of 25k-30k.

One thing I’d add is once you have your budget, find a good investor-friendly agent and start looking at houses.

The only thing I can offer is that it seems you need to figure out your budget. 

Budget 5%.

@Brad Brynteson I’d guess that would all depend on your marketing budget.

At the end of the day if you do a sq footage estimate, just know that when the end buyer takes a look, he might completely disagree with your rehab budget.

Ravenswood is a high priced area, expect a budget of $800k with at least 20% down

Improving the property will likely require budgeting a percentage of the monthly rent for the materials. 

I've noticed that there are new townhouse and single family home developments coming up in the northeast Denver area in gateway that are within my budget (275-350k).

I would assume you would want to budget for roof 25 year life span, hvac 20 year life span, appliances and hot water heater 12 year life span, bath and kitchen remodel 15-20 year life span, etc.